7 Step Process to Build a Residual Income Business Online

If you are building a residual income business to create residual income and not just a paycheck, let me start this post by saying that you need to make sure that you are NOT just building your business online, nor would I suggest ONLY building your business offline; you must combine both worlds for substantial and lasting success!

First of all, the #1 most important activity in building a profitable and thriving residual income business is continuous prospecting every day (6 days a week – you can take a day off to rest, recuperate, reflect, plan, prepare for next week etc).

You should be talking to new people about your business every day, whether offline or online, no matter where you meet them (although I suggest you pre-qualify them, though, with a system like MLSP automating this process for you). ) . On average, you need to talk to about 15 people to sign up one person. So if you want to target 4 people a month, you have to talk to 60 a month or 15 a week. Do you want to enroll 3 people a week? You need to talk to 45 people a week. They are simple numbers.

How to get to work with your residual income business

Don’t worry about sifting, sorting, or following up on the people you’ve directed to your sales funnel — leverage your efforts, time, and resources by using your MLM system to do those things for you. Use the funnel. Focus first on generating leads (offline if you don’t already have enough online leads to meet your goals) that will go into your funnel. Then, for the leads that come through your funnel, focus on reaching out to these pre-qualified leads (or your actual prospects) to introduce them to your business.

For leads you create online, you need to immediately start connecting with them to maximize your results. If they don’t leave a phone number, that’s fine, look up their email address on Facebook and connect with them online.

BUT YOU DON’T THROW THEM!

Just connect with them – that’s what Facebook and social media are all about! Get to know them, check their Facebook profile, be interested in them, make a friend! Then find out what they’re looking for – they obviously opted for your website for a reason! See how you can help them and direct them to resources that will help them. (Remember, your autoresponder is already set up to work with your sales funnel or funded proposal, preloaded with powerful messages that will educate your prospects and teach them about you, the system, your business, the process, etc.)

How to build your residual income business

You can have billions of different things happening and coming up on any given day. But, within that day, there are certain business growth activities that you need to focus on as a top priority, things you need to do on a daily basis, in addition to team trainings, group presentations, conference calls, etc. So here’s how to successfully run your residual income business every day, regardless of what other activities may be planned or may arise to support your team, etc.:

#1 – Prospecting!

Focus on connecting with enough people each day to reach your weekly, monthly, and yearly goals. For example, if I want to sign up 4 people a week, I focus on prospecting 60 people that week. I do that through a mix of online and offline prospecting activities to build my business locally and across the country as well.

You (your marketing) direct these people to my funnels to learn more about whatever it is you’re promoting. If I’m promoting my residual income business, I can direct them to a custom capture page to educate them on the benefits of my business and the opportunity. If I’m promoting my inbound marketing or online marketing system, I’ll direct them to that particular capture page.

But whatever marketing methods you’re implementing, you need to make sure you’re doing enough to generate at least the number of leads per day/week/etc. necessary to achieve your goals. Again, if you can’t generate enough leads online to meet your weekly goals, you need to focus on additional prospecting methods to ensure you can meet your goals. Always implement at least 3-5 communication or marketing methods on a weekly basis to diversify your leads and guard against an unexpectedly depleted source, etc.

#2 Once you have your daily prospecting activities sorted out, AFTER Work on your internet marketing activities.

Note: If you only have a limited amount of time each day to build your residual income business, you will not be able to stick to the program below as it is quite aggressive. This business requires commitment, and online marketing is something, at least for the first year or two, that requires dedication and commitment to get the process done. You won’t get results overnight, you need to be in it for the long haul (not 40 years like corporate America, we’re talking 2-5!).

So get ready for the ride. But if you can afford the price, if you can commit the amount of time and energy it takes, it’s worth it. The internet can help you harness the amount of time and amount of resources needed to create the same or better type of results without it.

The daily activities you need to focus on to build your online residual income business:

1. Create a new piece of content every day (article, video, audio, PDF document, etc.)
2. Promote your content socially (ie social bookmarking, digg it, buzz it, share it on Facebook, Tweet it, StumbleUpon, etc.)
3. Create a short video about it or promote it to post on YouTube
4. Create multiple variations of your content to submit to directories and sites on the Internet, creating links to your original content (backlinks) and to generate more traffic.
5. Comment on other blogs and in forums to link to your content (DoFollow Blogs with CommentLuv) to get more backlinks and drive more targeted traffic.
6. Grow your network every day (ex: add a few Facebook friends or Twitter followers, etc.), in addition to physically prospecting and connecting with people every day (just adding friends and followers does not count as ACTIVE PROSPECTING – you must involve directly to the people specifically for your business to count as prospecting: people you can get a response from regarding your specific offer)

– Distribute your content virally using the power of a tribe like TSA (add 200+ active distribution members to your network to help drive more traffic to your site, drive more traffic, get feedback, drive social activity, etc. )

7. Continually work and improve YOU every day to make YOUR process: your prospecting, your promotion, your recruiting, your presentations better every day (scroll down this page to find the “Essential Reading” box for ideas). Perfection does not exist, but there is always room for improvement. Make sure you learn something new every day and more importantly make sure you IMPLEMENT and apply it too!

This process takes a few hours each day, depending on how much time you spend in each area, such as how long an article or video is, how much promotion you do for it, how much you syndicate it, etc. Everything will vary. It would take a lot longer at first because it’s new and strange, but once you get in the habit of doing it, you can cut the amount of time in half or even a quarter. There are even apps for iPhone, for example, so you can do some of these things, from creating your WordPress blog posts to promoting and distributing your content, on the go. However, I like to try to do it all at once, more or less; I’m more effective that way.

So get to work! If you’re not doing any of these activities now, start with step 1, then once you can do it every day, add step 2, and so on. Schedule your time each day to get into a routine so that you eliminate each day like clockwork. Stay disciplined with this process every day and watch your site’s Alexa Rank drop like a rock, your PageRank go up (over time), your traffic count explodes, your lead stream increases, your phone starts ringing. and your bank account overflows. Let the compounding effect take place by being consistent and disciplined and see you at the bank!